Intravascular Ultrasound (IVUS) Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Equipment and Accessories); Modality (Virtual Histology IVUS, iMap IVUS, and Integrated Backscatter IVUS); End User (Hospitals and Clinics, Diag

Intravascular Ultrasound (IVUS) Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Equipment and Accessories); Modality (Virtual Histology IVUS, iMap IVUS, and Integrated Backscatter IVUS); End User (Hospitals and Clinics, Diagnostic Centers, and Academic and Research Institutes)

The global intravascular ultrasound (IVUS) devices market is expected to grow from US$ 608.97 million in 2021 to US$ US$ 1,012.37 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.

Key factors such as the high prevalence of coronary artery diseases coupled with the increasing focus of numerous countries on building robust healthcare infrastructure will contribute to the expansion of the intravascular ultrasound devices market. However, product recalls and dearth of trained technicians restrains the market growth.

Due to the COVID-19 pandemic, the demand for intravascular ultrasound (IVUS) devices has increased. According to the American College of Cardiology (ACC), around 40% of the COVID-19 recovered patients develop cardiovascular conditions. North America and Asia Pacific regions are the major contributors to the market growth, owing to a few factors such as the rise in the need of IVUS procedures during PCI procedures and increase in the adoption of IVUS systems in hospitals and diagnostic centers.

Intravascular Ultrasound (IVUS) is a diagnostic method performed to get a real-time view of the inside of a coronary artery. IVUS is a catheter-based medical imaging methodology that provides medical professionals to check the level of stenosis, which is the degree of thickening or narrowing of an artery. This procedure delivers a visual image of the lumen or the inside of the artery, and the atheroma, which is the membrane or the cholesterol-loaded white blood cells, that is hidden inside the artery wall. Physicians usually image the lining of an artery using IVUS in preparation for or during an arthrectomy or angioplasty. IVUS is additionally used to view the results of the procedure and in the placement of stents. Intravascular ultrasound devices are equipped with medical imaging technologies. They use ultrasound transducers on the catheter tip to carry imaging of the interior of blood vessels. The utilization of intravascular ultrasound devices in various applications will bring immense growth prospects for the market players.

The rising prevalence of cardiovascular diseases eventually boosts the growth of the intravascular ultrasound (IVUS) devices market.

Based on end user, the intravascular ultrasound (IVUS) devices market is segmented into hospitals and clinics, diagnostic centers, and academic and research institutes. The hospitals and clinics segment held the largest share of the market in 2021. However, the diagnostic centers segment is estimated to register the highest CAGR of 7.9% during the forecast period.

Centers for Disease Control and Prevention, and the American Heart Association are a few major secondary sources referred to while preparing the report on the intravascular ultrasound (IVUS) devices market.

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The List of Companies - Intravascular Ultrasound (IVUS) Devices Market

1. Koninklijke Philips N.V.
2. GE Healthcare
3. Siemens AG
4. Boston Scientific Corporation
5. Infraredx, Inc.
6. Terumo Corporation
7. Axle International
8. Conavi Medical Inc.
9. Canon Medical Systems
10. Abbott
11. ACIST Medical System